Kirby Co. (NYSE:KEX) Stock Holdings Increased by VELA Investment Management LLC

VELA Investment Management LLC raised its position in Kirby Co. (NYSE:KEX - Free Report) by 11.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 139,848 shares of the shipping company's stock after purchasing an additional 14,201 shares during the period. Kirby accounts for approximately 4.2% of VELA Investment Management LLC's portfolio, making the stock its largest position. VELA Investment Management LLC owned 0.24% of Kirby worth $10,975,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KEX. Coppell Advisory Solutions Corp. acquired a new position in shares of Kirby in the 4th quarter worth approximately $45,000. Point72 Hong Kong Ltd acquired a new position in shares of Kirby during the 1st quarter valued at $47,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Kirby during the 4th quarter valued at $53,000. NBC Securities Inc. acquired a new position in shares of Kirby during the 3rd quarter valued at $59,000. Finally, State of Wyoming lifted its position in shares of Kirby by 327.3% during the 4th quarter. State of Wyoming now owns 1,722 shares of the shipping company's stock valued at $111,000 after acquiring an additional 1,319 shares during the period. Institutional investors and hedge funds own 96.15% of the company's stock.

Insider Transactions at Kirby

In other news, insider Christian G. O'neil sold 8,994 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $85.15, for a total value of $765,839.10. Following the sale, the insider now directly owns 16,079 shares of the company's stock, valued at $1,369,126.85. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Christian G. O'neil sold 8,994 shares of the firm's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $85.15, for a total value of $765,839.10. Following the sale, the insider now directly owns 16,079 shares of the company's stock, valued at $1,369,126.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Scott P. Miller sold 1,828 shares of the firm's stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $79.60, for a total transaction of $145,508.80. Following the completion of the sale, the vice president now directly owns 1,000 shares in the company, valued at $79,600. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,418 shares of company stock valued at $4,932,521. 1.40% of the stock is currently owned by corporate insiders.

Kirby Stock Performance

NYSE KEX traded down $0.77 during trading on Monday, hitting $97.14. 360,834 shares of the company's stock traded hands, compared to its average volume of 389,729. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 1.65 and a beta of 1.21. Kirby Co. has a 12-month low of $66.42 and a 12-month high of $101.17. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.68. The business has a 50 day moving average of $90.34 and a 200-day moving average of $82.58.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings data on Thursday, February 1st. The shipping company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.03 by $0.01. Kirby had a net margin of 7.21% and a return on equity of 7.12%. The business had revenue of $799.18 million for the quarter, compared to the consensus estimate of $778.70 million. During the same period in the prior year, the firm earned $0.67 earnings per share. The company's revenue was up 9.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Kirby Co. will post 4.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

KEX has been the topic of several research reports. BTIG Research upped their price objective on shares of Kirby from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, April 3rd. StockNews.com downgraded shares of Kirby from a "buy" rating to a "hold" rating in a report on Monday, April 8th. Finally, Stephens restated an "overweight" rating and set a $105.00 price objective on shares of Kirby in a report on Monday, February 5th.

About Kirby

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.